Oman – Insurance products regulations
Monday, 06 12 2017, Category: Insurance and Reinsurance, Country: Oman
The Board of Directors of the Capital Market Authority held its second meeting for this year under the leadership of Mr. Yahya bin Said bin Abdullah Al Jabri, Chairman, Special Economic Zone Authority Duqm and chairman of the Capital Market Authority.
The main issues tackled by the board were the national programs that fall under the scope of the authority and the approval of the new board of directors of the Muscat Securities Market.
Moreover, the board issued the regulations of the insurance products that will ease the approval of products by setting a list of requirements and strengthening the role of actuaries in reviewing products and protecting policyholders. The new regulations will apply before marketing products and will encourage competitiveness and innovation among insurance companies according to the needs of the local market.
Source: Oman Daily